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Madigan Kills Millionaire Tax Proposal

Wed, 09 Apr 2014 16:55:59 CDT
By: AP

Michael Madigan's spokesman says the Illinois House speaker is withdrawing a plan to tax millionaires in the state. Steve Brown is the Chicago Democrat's spokesman. He says Madigan blames Republicans who wouldn't support the proposal. Brown says Republicans ``prefer and protect millionaires over school children.'' Highwood Democratic state Rep. Scott Drury also expressed concerns about the plan. Madigan wanted to put a constitutional amendment on the November ballot that would have added a 3 percent surcharge onto incomes over $1 million. He said it would raise an estimated $1 billion annually for schools. A House committee had approved the plan. The proposal needed a three-fifths majority in both chambers to be placed on the general election ballot. Republicans said the tax would hurt small businesses and farmers.

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